Pinnacle West Capital (NYSE:PNW) had its price target trimmed by Morgan Stanley from $95.00 to $87.00 in a report released on Friday, AnalystRatings.com reports. The firm currently has an underweight rating on the utilities provider’s stock.
A number of other research analysts have also recently commented on the stock. ValuEngine cut shares of Pinnacle West Capital from a buy rating to a hold rating in a research report on Thursday, August 1st. Credit Suisse Group increased their price target on shares of Pinnacle West Capital from $101.00 to $108.00 and gave the company an outperform rating in a research report on Monday, October 7th. Bank of America cut shares of Pinnacle West Capital from a buy rating to a neutral rating and set a $90.00 price target on the stock. in a research report on Friday. Evercore ISI cut shares of Pinnacle West Capital from an in-line rating to an underperform rating in a research report on Friday, August 9th. Finally, UBS Group increased their price target on shares of Pinnacle West Capital from $99.00 to $104.00 and gave the company a neutral rating in a research report on Friday, September 20th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. Pinnacle West Capital has a consensus rating of Hold and a consensus target price of $95.83.
NYSE PNW traded down $1.43 on Friday, reaching $86.39. 1,362,990 shares of the company’s stock traded hands, compared to its average volume of 981,974. Pinnacle West Capital has a 12 month low of $81.63 and a 12 month high of $99.81. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.54 and a quick ratio of 0.38. The stock has a 50-day simple moving average of $94.82 and a 200 day simple moving average of $94.68. The stock has a market cap of $10.19 billion, a PE ratio of 19.03, a P/E/G ratio of 3.11 and a beta of 0.06.
Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $2.77 EPS for the quarter, missing analysts’ consensus estimates of $3.00 by ($0.23). Pinnacle West Capital had a net margin of 13.84% and a return on equity of 9.33%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the business earned $2.80 earnings per share. The firm’s revenue was down 6.1% on a year-over-year basis. As a group, analysts anticipate that Pinnacle West Capital will post 4.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be paid a dividend of $0.7825 per share. This represents a $3.13 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend is Friday, November 1st. This is a positive change from Pinnacle West Capital’s previous quarterly dividend of $0.74. Pinnacle West Capital’s dividend payout ratio is 68.94%.
Large investors have recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd purchased a new stake in shares of Pinnacle West Capital during the second quarter valued at approximately $35,000. HM Payson & Co. purchased a new stake in Pinnacle West Capital in the second quarter worth $37,000. CSat Investment Advisory L.P. lifted its stake in Pinnacle West Capital by 50.3% in the second quarter. CSat Investment Advisory L.P. now owns 448 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 150 shares during the period. Old North State Trust LLC lifted its stake in Pinnacle West Capital by 27.6% in the second quarter. Old North State Trust LLC now owns 721 shares of the utilities provider’s stock worth $68,000 after acquiring an additional 156 shares during the period. Finally, Cerebellum GP LLC purchased a new stake in Pinnacle West Capital in the third quarter worth $68,000. 88.07% of the stock is owned by hedge funds and other institutional investors.
About Pinnacle West Capital
Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. It generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar generating facilities. The company serves approximately 1.2 million customers.
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